Apple's next big event is coming soon, and it's set to happen on March 25 at the Steve Jobs Theater in Cupertino. The tech giant is expected to make important announcements, but if you're looking for shiny new Apple gadgets, you might be in for a disappointment.

Don't expect sightings of the rumored low-cost iPad, the new iPad Mini nor the second-generation AirPods next month. Instead, Apple is reportedly introducing two new services -- a paid news subscription service and a Netflix-style video subscription service.

This may be a break from the norm as Apple traditionally reserves its major events for hardware unveilings, but with iPhone sales starting to plateau and the relative success of Apple Music, the increased focus on services actually makes sense for the company.

'Apple News Magazines'

Apple's plan to launch a premium news platform is nothing new. There have been rumors surrounding Apple's planned paid news subscription service for months now, and its impending launch doesn't come as a surprise.

The service, rumored to be called "Apple News Magazines," will bundle magazine and newspaper subscriptions into one $10 monthly plan. It will be integrated into iOS via the Apple News app.

The success of this service depends on the cooperation of publishers and news providers, of course, but it sounds like it's off to a rough start.

Apparently, Apple is planning on taking a 50% cut from the publishers' subscription fees ,and there's been significant pushback against these terms. Both The New York Times and the Washington Post have reportedly turned down Apple's current deal due to these demands.

Apple's Netflix killer?

The other platform that Apple is prepping for the upcoming event is most likely its very own streaming video subscription service just like Netflix or Amazon Prime Video. Similar to these competing platforms, this paid video service will feature original content that Apple is reportedly investing a billion dollars on to produce.

Aside from original TV shows and movies, the platform will also act as an all-in-one portal for existing video streaming services, similar to Amazon's Prime Video Channels and Roku's Premium Channels. This means that instead of launching different streaming apps to use a particular service, they can all be funneled through Apple's iOS TV app.

However, mirroring what's happening in Apple's premium news subscription service, some networks are reportedly not eager to join the video platform because of Apple's larger-than-usual cut (rumored to be 30%) from each service's subscription fees.

Currently, Netflix, HBO and Hulu are still not on board the platform, although HBO is still negotiating with Apple. To be fair, Netflix and Hulu are not included in Amazon's Prime Video Channels either, so it's likely that they won't be taking part in Apple's streaming video portal anytime soon.

Apple's ambitious Netflix-killer is set to launch in April or May but with everybody and their brother is seemingly looking to launch their own video streaming service these days, will it even stand a chance?

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